Seaport Res Ptn Lowers Earnings Estimates for Wynn Resorts

Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) - Investment analysts at Seaport Res Ptn dropped their FY2024 EPS estimates for shares of Wynn Resorts in a research note issued to investors on Tuesday, November 5th. Seaport Res Ptn analyst V. Umansky now expects that the casino operator will earn $3.73 per share for the year, down from their previous estimate of $5.00. The consensus estimate for Wynn Resorts' current full-year earnings is $5.42 per share. Seaport Res Ptn also issued estimates for Wynn Resorts' Q4 2024 earnings at $1.52 EPS and FY2025 earnings at $3.63 EPS.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. The firm had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period last year, the company earned $0.99 earnings per share. The business's revenue for the quarter was up 1.3% on a year-over-year basis.

Other analysts also recently issued research reports about the company. Jefferies Financial Group decreased their target price on Wynn Resorts from $111.00 to $96.00 and set a "hold" rating on the stock in a research note on Thursday, July 11th. Macquarie reiterated an "outperform" rating and set a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday. Susquehanna boosted their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a "positive" rating in a report on Friday, October 11th. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Morgan Stanley boosted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wynn Resorts presently has an average rating of "Moderate Buy" and an average target price of $115.71.

Wynn Resorts Stock Up 2.2 %

WYNN stock traded up $1.85 during trading on Thursday, reaching $87.17. The company's stock had a trading volume of 2,925,309 shares, compared to its average volume of 2,171,200. The company's fifty day moving average is $90.58 and its 200-day moving average is $88.67. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38. The company has a market capitalization of $9.67 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 2.48 and a beta of 1.80.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator's stock worth $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. Renaissance Technologies LLC boosted its position in Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator's stock valued at $120,386,000 after buying an additional 303,033 shares during the period. Janus Henderson Group PLC grew its stake in Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator's stock worth $115,082,000 after acquiring an additional 204,852 shares in the last quarter. Regal Partners Ltd increased its position in shares of Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator's stock worth $86,168,000 after acquiring an additional 174,005 shares during the period. Finally, Bamco Inc. NY raised its stake in shares of Wynn Resorts by 5.1% during the first quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator's stock valued at $80,591,000 after acquiring an additional 38,160 shares in the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.15%. Wynn Resorts's payout ratio is presently 12.33%.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.